As many of our readers probably know by now, the crypto market has recently been surging— with a whole host of major alt-assets currently lying in the green after being faced with immense bearish pressure for more than 12 months straight.
However, many market commentators have been quick to note that even during the recent bear season, TRX was one altcoin that continued to defy expectations and do well. This is because the Tron Foundation has been involved with a host of elaborate activities (such as the niTron summit and the launch BitTorrent token [BTT]) that have not only instilled customer confidence in the project but also helped it become a staple of the financial mainstream.
Despite all of these positive developments, many backers are now reporting that the Tron ecosystem is ridden with a whole host of exit scams that are damaging the overall reputation of the project.
For example, many Redditors have recently been speaking out against TronCandy [TRZ], a TRC10 token, because they are constantly facing issues related to lost/misplaced assets.
When trying to dig up information about the TronCandy project, our team could not find a lot of key data that is usually associated with a legitimate altcoin. To start with, one of the few details that we know about this project is that it was released sometime during mid-November, 2018.
In addition to this, we also discovered that once all of the tokens associated with the project were sold, the offering got delisted from Tronscan.org.
The Complaints Continue To Flow In
Recently, Wahid Fayad, a well respected TRON community member spoke out on Reddit against TronCandy. He claims to have lost a total of 12 Mil TRZ due to certain shady activities of the Tron Foundation.
In regards to the matter, Wahid took to a host of social media platforms wherein he claimed that he had been duped by the Tron Foundation and Justin Sun. Via a detailed report released a couple of days back, Wahid elucidated on how he lost a majority of his TRZ and TRX holdings on Tron Dex, Tronscan.org.
“I invested 15k TRX in Dex exchange Tronscan.org and was able to make over 75K. Then one day I invested in another currency and they automatically removed my purchase off the market without notifying anyone.”
He then went on to add:
“… I contacted TronCandy on Twitter telling them I have over 12Million TRZ. How do I sell it and get my Tron back?”
Despite repeated attempts to get in touch with the folks over at the Tron Foundation, Wahid claims that he did not get any proper response from the company, instead, the foundation automatically exchanged his misplaced TRZ tokens for TRX.
“I go back after a month on Tronscan and manually searched for my TRZ tokens — and found them. So it allows me to sell my TRX. It says I get back 11K — it was at least something. So then the purchase goes smoothly and I see the hash and address info of the purchase. But GUESS WHAT!!!? NO TRONCANDY OR TRON IS IN MY PORTFOLIO!”
Following this, Wahid then escalated the issue on Tronscan’s official Telegram portal. There, he claims that a whole host of other community members too were facing similar issues.
According to him, an official representative for Tronscan asked him to fill out a form, after which he was told that he would be provided with an official receipt and update within the next 48-72 hours. However, Wahid says that despite waiting patiently for a resolution to come by, nobody from the Tron team got back to him.
More On The Matter
On the issue, Wahid continued by saying that after getting no response at all he tried to contact other members associated with Tronscan, who straight up told him that the organization was no longer in possession of any TronCandy [TRZ].
The person in question (whose identity has not been made public) asked Wahid to get in touch with the folks over at TronCandy directly, to which he replied:
“I would have done that if possible!!! Their site is down. Their Twitter is inactive. There is no connection between them and the world!”
Following this exchange, Wahid finally lost his cool and went on Twitter to call this entire operation “one big scam”. Not only that, but he also went on to say that Justin Sun was equally to blame since he allegedly promoted the project.
“Yes scam! I call it a big scam. Who owns my Tron now? Is it on Tronscan or is it on TronCandy. One of them owe me money and I call it Tronscans fault. Justin Sun promoted this shit on his Twitter every day! He should take full responsibility of people’s losses.”
Rounding off his online tirade, Wahid ended his post by asking for full monetary compensation. To further his cause, he provided relevant authorities with screenshots of his conversations with the two Tronscan telegram IDs.
Other Key Data Points Worth Noting
- Independent research in regards to the Hash data provided by Wahid shows that the tx did indeed take place. However, with that being said, the final balance amount was not revealed online.
- The official Twitter handle linked to TronCandy is quite suspicious since it only features a fixed number of tweets. Not only that, none of these tweets make any mention of the Tron foundation or Justin Sun.
- At press time, the TronCandy project has no internet presence that can be accessed by interested users.
Soon after raising his concerns on Tron’s official subreddit twice, Wahid’s posts were taken down. Not only that, but he also started to receive a lot of backlash from other community members. For example, a Redditor called ChampramBenjaporn posted the following message online:
“I've said this 1000 times and I will say it again. Touching Tron is bad news. It is engulfed by hucksters all the way from the bottom to the top.”
However, there were other members of the Tron community who defended Justin Sun by saying:
“I agree that Justin Sun promoting a scam project is a really bad look and as the founder of an alt coin, he should really be more conscious of which projects he openly supports. That said, Justin Sun didn’t scam you, Tron Candy and Tron Scan did. Justin Sun didn’t make you buy Tron Candy or use Tron Scan, for all we know, he was genuinely optimistic about the project.”
Last but not least, it should also be mentioned that there are two other projects related to Tron that are being touted to be scams right now— these include Tronlottery and Tronpoker.